Senator Matt Canavan has welcomed news that axing the carbon tax has delivered Queenslanders the biggest cut in electricity costs on record.

“This is great news for Queensland families, businesses and farmers,” Senator Canavan said today. “Electricity is a major cost, whether you are running a home or business premises or a farm. The record falls in electricity costs throughout Australia show the massive impact of Labor’s carbon tax.

 “The benefits of axing the carbon tax highlights we need to get the renewable energy target (RET) down as well because that burdens all Australians with another unnecessary tax and it’s certainly a handbrake on economic growth and jobs here in Queensland.

 “Labor and the cross-benchers should agree to realistic changes to the RET scheme, so we can further reduce the cost of living and the cost of doing business.”

 Senator Canavan was responding to Australian Bureau of Statistics (ABS) figures released today for the September 2014 quarter showing the largest fall in electricity prices since the ABS began its current monitoring program in 1980.

 “We know that electricity and gas prices in Queensland are up to 9.4% lower than they would be if the carbon tax was still in place. That compares with a doubling of electricity prices during Labor’s time in office.

 “Now, with demonstrated savings from axing Labor’s carbon tax, it’s time to get more savings into Queenslanders’ pockets from the RET.”